PHOTO booth firm Photo-Me International outlined plans to strengthen the business as it recovers from hefty losses and a £500,000 fine from the UK financial watchdog.
The group posted pre-tax profits of £9.3m for the year to April 30 – compared with a £5.1m loss the year before. Sales rose by 5.7% while the firm also reported surplus cash of £8.1m at the year-end against debts of £23.5m last time.
Photo-Me was hit by a record fine from the Financial Services Authority for failing to disclose key information to the stock market promptly.
The fine related to a 2007 breach of the rules surrounding so-called inside information.